The gold standard and the euroA reflection from a reading of A Tract on Monetary Reform

  1. Vicente Esteve 1
  2. Manuel Navarro-Ibáñez 2
  3. María A. Prats 3
  1. 1 Universitat de València
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    Universitat de València

    Valencia, España

    ROR https://ror.org/043nxc105

    Geographic location of the organization Universitat de València
  2. 2 Universidad de La Laguna
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    Universidad de La Laguna

    San Cristobal de La Laguna, España

    ROR https://ror.org/01r9z8p25

    Geographic location of the organization Universidad de La Laguna
  3. 3 Universidad de Murcia
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    Universidad de Murcia

    Murcia, España

    ROR https://ror.org/03p3aeb86

    Geographic location of the organization Universidad de Murcia
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Journal:
Cuadernos de economía: Spanish Journal of Economics and Finance

ISSN: 2340-6704,  0210-0266

Year of publication: 2017

Volume: 40

Issue: 114

Pages: 247-255

Type: Article

DOI: 10.1016/J.CESJEF.2016.10.003 DIALNET GOOGLE SCHOLAR HANDLE: https://hdl.handle.net/10486/690808

More publications in: Cuadernos de economía: Spanish Journal of Economics and Finance

Sustainable development goals

Abstract

This paper makes a comparison between the gold standard and the euro through a study of Keynes's views on the need to manage the macroeconomic situation of an industrial economy. The essay centers on Keynes's first relevant economic work of the post World War I years, A Tract on Monetary Reform, analyzing its theoretical and practical content. The situation of monetary instability and the choice of exchange regime (to return or not to the gold standard, with the parity prior to the war) were the factors that attracted Keynes's attention in those years. Similarities between the gold standard and the present euro system bestow a certain interest on Keynes's ideas and on the economic discussions that took place in Great Britain during the postwar years (1919–1925).

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